Topic

Product(optional)

My name is

My phone number is

My e-mail is

My company is

Message

󰀥

China's imports of major chemical and mineral products in October 2017

2017/12/11 16:02:27

Tranalysis lists
the import statistics of major chemical and mineral products for China in
October 2017 and provides a brief analysis of the commodities and their import
situation in China. For a detailed import and export report, please contact our
team at econtact@tranalysis.com.

China's imports of five chemicals and minerals products in October 2017

China’s oil import

China
is the world's largest net oil importer, enjoying good trade relations with the
countries of OPEC to rely on most of the imports. Since the economic expansion
of the middle kingdom shows no signs to significantly slowing down, the raw oil
consumption and hence the depending imports are likely to continue rising.

China
imported 281.1 million tonnes of crude oil in the first eight months of this
year, which is roughly meeting two-thirds of its crude oil demand. China is
importing increasing volumes of oil not only because of demand growth but also
because its domestic oil production is declining. Thus, Chinese dependence on
crude oil imports is continuously rising and is set to further grow in the near
future.

Even
China is mainly depending on OPEC states for its oil imports, the country is
diversifying the suppliers and increased imports from non-OPEC oil exporting
countries, like Russia and Brazil.

Saudi
Arabia was China’s leading supplier in the first eight months of 2016 but has
fallen to third place behind Russia and Angola in the first half of 2017. After
all, while the imports from Saudi Arabia declined slightly, Angola and Russia
have managed to boost their share of China’s crude imports. Brazil also has
been a large gainer, with exports in the first eight months rising 41.8
percent.

However,
in the long run, China is desperately trying to become less dependent on oil
imports, trying to become independent in energy creation and consumption. The
efforts are supported by the ambitious goal to continuously expand the share of
electric or hybrid-driven cars.

China’s medical and pharmaceutical
products import

The
pharmaceutical and medical industry is one of the leading industries in China.
However, the domestic pharmaceutical market is highly fragmented and inefficient.
Hence, the country is still relying on imports, especially when it comes to
high-tech devices.

While
Chinese medical device manufacturers dominate the domestic market, they have
concentrated on delivering mostly low-tech and mid-range products. However,
Chinese hospitals and healthcare providers prefer imported devices, especially
when purchasing innovative and high-tech devices. This is the sweet sport for
foreign exporters of medical devices into the Chinese market.

What’s
more, the Chinese government has announced some major tax breaks for more than
180 commodities, starting from December 2018. Taxes for a range of medicines,
including various antibiotics and insulin products, were lowered to 2% from as
much as 6%, potentially a big win for multinational drug companies.

After
all, China's medical imports stood at USD22 billion in the first 10 months of
2017, according to latest data from the China’s Customs.

China’s primary
plastics import

China
is the worldwide largest plastic importer as well as the exporter. Considering
that plastic is the 6th most imported global product, this indicates an
enormous trade volume for market players involved in China’s plastics trade.

The
country recorded USD61 billion plastic import value during the year 2016. China
is importing plastic from around 150 countries with South Korea being its
largest plastic origin country.

However,
China has notified the World Trade Organization WTO recently, that it is going
to ban the import of certain scrap materials including plastic in order to
protect the environment and public health. Only first quality
material will be allowed imported into the country. This has a massive
effect on many plastic recycling manufacturers around the world, which mainly
relied on China’s imports.

China’s copper products
import

China’s
imports of copper products were steady for most months on 2017, indicating
demand remains robust in the world’s largest consumer of copper, causing the
price to enjoy some significant rises recently.

The
imports of copper products climbed by 26.5% year-on-year in September 2017,
according to Chinee customs data. However, the actual downtrend of the copper
product imports in comparison to 2016 have not been balanced out yet.

China
relies heavily on copper products, to feed the rising demand of its technical
and construction industry. After all, China accounts for nearly half the
world’s copper consumption.

China’s aluminium
products import

China
is a major aluminium exporter in an oversupplied market. However, supplying
mostly raw aluminium and low-quality aluminium products, the country is still
importing significant amounts of high-quality aluminium products for its
booming economy.

Your import and export
analysis

To
trade one of the mentioned products, or any other commodity, globally, traders
depend on the suppliers and exporters in foreign countries. Getting the import
and export data for your commodity is the key for effective supplier and buyer
contact and negotiation.

At
Tranalysis you can get the original customs data in which you will find the
list of importers and exporters in different countries as well as an analysis
to even discover the buyers and manufacturers behind the official trade
data. Subscribe our service to track the activity of traders.

For
a complete import as well as export analysis of the demonstrated commodities,
or thousands of other commodities, please get in contact with Tranalysis’
experts to get the information behind China’s and worldwide Customs data
at econtact@tranalysis.com or
buy your report directly on our website in our shopping mall
at http://www.tranalysis.com/Mall/Index